Press release from Marketwire
Paladin Energy Ltd: Clarification of Disclosure in the Half Year Financial Statements
Wednesday, February 15, 2012
PERTH, WESTERN AUSTRALIA--(Marketwire - Feb. 15, 2012) - Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") announces:
Following the release of the 31 December 2011 Half Year Financial Statements, Paladin Energy Ltd would like to clarify a statement made on page 7 in relation to the production guidance range for the 2012 financial year.
This paragraph refers to the decrease in Paladin's production guidance range to 7.1M to 7.4Mlb for the financial year ending June 2012. This was decreased from the original range of 7.4M to 7.9Mlb set in July 2011. This reduction was announced to the market in the Quarterly Activities Report for period ending 31 December 2011 and was repeated as a function of the half year disclosure as required.
There has been no further adjustment to the production guidance range for financial year ending June 2012.
The write down of the Kayelekera mine assets was similarly previously announced to the market with the September 2011 quarterly results. Since this time, there has been no further reduction in the US$337M carrying value of the Kayelekera mine assets.
Paladin Energy Ltd
ACN 061 681 098
FOR FURTHER INFORMATION PLEASE CONTACT:
Paladin Energy Ltd In Australia: John Borshoff Managing Director/CEO +61 8 9381 4366 or Mobile: +61 419 912 571 firstname.lastname@example.org
Paladin Energy Ltd In Canada: Greg Taylor Investor Relations Contact +905 337-7673 or Mobile: +416 605-5120 (Toronto) email@example.com